California Public Utilities Code 22 – No corporation formed or existing before 12 o’clock m. of January 1, …
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No corporation formed or existing before 12 o’clock m. of January 1, 1873, is affected by the provisions of Division 4 of this code unless the corporation has elected to continue its existence under the provisions of the Civil Code repealed by this code, or elects to continue its existence under this code, but the laws under which such corporations were formed and exist continue to apply to all such corporations, notwithstanding their repeal by this code or prior to its enactment.
(Enacted by Stats. 1951, Ch. 764.)
Terms Used In California Public Utilities Code 22
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.